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A MET can be beneficial to both employers and their employees. Participating in a MET can lower costs associated with forming and managing a broad benefit plan that follows the Employee Retirement Income Security Act of 1974 (ERISA). Employers can use multiple employer plans to work together and combine their resources, which can save these employers money. Employers also get the benefit of aggregating risk across the total trust to provide greater predictability and rate stabilization.
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Employer Groups
METs were authorized by Congress in 1984 Under Section 419A of the Internal Revenue Code. METs require a group of 10 or more employers with no single employer contributing more than 10% of total funding. All participants share equally in benefits forfeited by other members of the group.
Unions and Associations
A multiemployer trust is an employee benefit plan maintained under one or more collective bargaining agreements to which more than one employer contributes. The plan sponsor is a joint board of trustees consisting of equal representation from labor and management; these trustees are responsible for the overall operation and administration of the plan.
PEOs
METs were authorized by Congress in 1984 Under Section 419A of the Internal Revenue Code. METs require a group of 10 or more employers with no single employer contributing more than 10% of total funding. All participants share equally in benefits forfeited by other members of the group.
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